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Hard Money lenders near Albany, NY

For investors looking for real estate financing near Albany, NY for their investment deals, finding the right hard money lender or private money lender is essential. Locating a hard money lender in your state who understands the Albany, NY local market for fix and flip or rental deals will make it even easier.

What is a Hard Money Loan?

A hard money loan is a type of loan that is issued to investors based on the “hard asset” or the property itself. While hard money lenders do take into consideration additional factors like the individual borrower’s credit, experience, and income, these are not as high a priority when determining the borrower’s eligibility and loan amount. Hard money loans typically come with much higher interest rates, sometimes anywhere between 8% and 14% and have shorter terms of around 12 months. This is a much quicker form of funding, with loans capable of being issued within days to weeks instead of months.

Who Provides Hard Money Loans in Albany, NY?

Hard money loans are funded through private investors, smaller companies and businesses near Albany, NY. Traditional lenders such as banks will not issue hard money loans.

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Albany Hard Money Real Estate Market

Foreclosure Rates for Albany, NY

For Albany, NY real estate investors interested in locating deals for fix and flip investments that they can purchase inexpensively with Hard Money lenders loans, renovate, and sell for a profit, analyzing the number of foreclosures, auctions, and bank-owned properties is extremely helpful. Due to high competition for these types of properties, investors will appreciate the speed that Hard Money lenders loans offer when they are trying to close on a property ahead of another investor.

Get 5 Steps Closer To Growing Your Fix and Flip Business near Albany

Sales Prices for Albany

Real estate investors purchasing homes using Hard Money lenders loans in Albany, NY should look at the data available to get a good idea of whether the market is prime for buyers or sellers. Determining the demand for housing will help with pricing their property accordingly, and knowing how much money for purchase and repair costs they’ll need from their Hard Money Lender.

Rental Prices for Albany

With home values having increased over the last few years in Albany, NY and expected to continue in this direction in the future, purchasing a rental property with Hard Money lenders loans in the Albany, NY area will allow for both stable monthly cash flow and a steady appreciation in value.

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Driving Factors for the Albany Real Estate Market

Education:
Albany is home to one of the highest educated
workforces in the country, greatly due in part to the
surrounding top ranking schools in the Albany, NY area.Economy:
Albany’s top employers are driving growth in
the real estate market including General Hospital.Businesses:
According to the Albany Chamber of Commerce,
Leisure & Hospitality, Professional & Business Services, and
Education & Health Services have seen high job and wage growth.

LendingOne, LLC serves as the originating entity for all loans and is licensed under NMLS ID # 1508627, Arizona Mortgage Banker License # BK-0944181, California Finance Lender License # 60DBO-58915, Minnesota Residential Mortgage Originator License # MN-MO-1508627, Oregon Mortgage Lenders License # 5529 and Vermont Commercial Lender License # 1508627 CLL. LendingOne, LLC currently does not lend in the following states: Alaska, Nevada, North Dakota, South Dakota and Utah. LendingOne, LLC is licensed or exempt from licensing in all other states. Loans only apply to residential, non-owner occupied properties. Rates, terms and conditions offered only to qualified borrowers, may vary upon loan product, deal structure, property state or other applicable considerations, and are subject to change at any time without notice, shall only constitute a general, non-binding expression of interest on the part of LendingOne, LLC, do not create any legally binding commitment or obligation on the part of LendingOne, LLC, and are expressly subject to LendingOne, LLC’s credit, legal and investment approval process. Closing times are in business days and commence upon receipt of appraisal payment and satisfaction of borrower conditions. Closing times may be delayed due to appraiser property access limitations or availability in certain markets. Rates are as of 01/15/2019.